General Announcement

Reference No PY-010608-63068

Company Name	:	YCS CORPORATION BERHAD
Stock Name	:	YCS
Date Announced	:	08/06/2001


Type	:	Announcement
Subject	:	SALE OF RETAIL UNITS IN RHYTHM AVENUE AXIS TO AVANGARDE RESOURCES BERHAD (“ARB”) FOR A TOTAL CONSIDERATION OF RM40.0 MILLION TO BE SATISFIED BY THE ISSUANCE OF NEW ORDINARY SHARES OF RM1.00 EACH IN ARB

Contents :

Further to our announcements to the Kuala Lumpur Stock Exchange dated 16th March 2001 and 27th March 2001, the Board of Directors wish to announce that a Deed of Release has been signed on 7th June 2001 between our wholly-owned subsidiary, Sanjung Utama Sdn Bhd (“Vendor”) and ARB (“Purchaser”) for the above transaction.

The Board has deliberated that it is in the best commercial interest to mutually abort the transaction based on current market conditions.

The Deed of Release shall be available for inspection at the Business Address of YCS Corporation Bhd at No.2, Suite 1-1, Jalan TP-5, Taman Perindustrian UEP Subang Jaya, 47600 Subang Jaya during normal business hours from Monday to Friday (except public holidays) for a period of 14 days from the date of this announcement.

This announcement is dated 8th June 2001.